Flaws in the Canadian Banking and Taxation System!

Sunday, April 25, 2010

Dear residents of Indian Harbour Lake, Sonora and Wine Harbour: I am campaigning for the office of Municipal Councilor for St. Mary's District 4.

There are three primary threats to the quality of life for all of us who live here. High unemployment will probably force most of our young people to move far away to find jobs. Because of government cut backs St. Mary's Educational Centre may be closed as early as 2011. In the near future record high tides may devastate our roads and homes that are only a few feet above sea level. We are being told that there is little that you and I can do about any of these problems but this is simply not true.

Satellite pictures show rapid melting of Arctic ice but only about ten percent is above water level. Ice occupies more space than liquid water so until now we have experienced rather little ocean level rise. Our situation will be entirely different if and when melting occurs in the massive ice pack on Greenland and Antarctica that sit on land.

I am in agreement with environmentalist and economist Bjorn Lomborg that a carbon shift policy will probably be ineffective over the short term in combating global temperature increases or in preventing a destructive rise in world ocean levels.

"Bjorn Lomborg argues that many of the elaborate and expensive actions now being considered to stop global warming will cost hundreds of billions of dollars, are often based on emotional rather than strictly scientific assumptions, and may very well have little impact on the world's temperature for hundreds of years." (lomborg.com/coolit/)

Two effective methods to combat global warming and simultaneously fight rising ocean levels have been proposed by New Mexico biologist Carl Cantrell.

"So how is our problem of continental drying causing global warming? It all has to do with vegetation and sunlight. When sun light hits a plant, it causes a process which we call photosynthesis where the energy from the sun light creates oxygen for us to breathe, water for us to drink, and is stored as sugar for plants and animals to use. When the same sun light hits the soil, all of its energy turns into heat and is radiated back into the atmosphere.. ."

"Therefore, the less vegetation you have on the planet, the more sunlight is being turned into heat and the warmer the planet becomes...."

"Just take a look at any satellite picture of the earth showing heat and you will see that our deserts are the warmest spots on the planet by far. More heat is being generated by just one of the top four or five deserts than by all of our cities combined.... "

"The truth is that you can do more to decrease global warming by just reducing the average temperature for the Sahara Desert by one or two degrees than if we humans completely quit using fossil fuels and returned to the cave…."

"So, how would you start working to resolve this problem? Easy, cool the deserts and get some vegetation growing on them as soon as possible. But the method is much more complex than that. You have to use the prevailing trade winds in relation to the deserts to get the best results as quickly as possible and it will be extremely expensive…."

"Then we build desalination plants along the coast near these water sheds and pipe water to the tops or ridges of the water sheds…"

"We need to start working on this as soon as possible because, if the planet reaches a point to where it is warming faster than our technology can possibly stop or reverse this warming trend, then our planet is lost and all life will cease to exist on this planet within a relatively short period of time. We will need to start with the largest and hottest deserts because cooling them will have the greatest benefit in the least time (Global Warming II by biologist Carl Cantrell)."

Another promising method to green the deserts is to use hydrogen fuel cell technology to power vehicles in the hottest and driest regions of the earth. Imagine millions of vehicles across the Sahara, the Middle East, near the US Mojave desert and in the outback of Australia all spewing harmless water vapor as exhaust! Rest assured humidity and rainfall will increase in those areas and vegetation will grow.

Last week I wrote a lengthy e-mail to Green Party Leader Elizabeth May. "Ms. May, if you owned a large apartment building and your tenants complained that the rooms were too warm would you listen to the advice of the contractor who was telling you to rip all the insulation out of the walls of this structure?"

"I don't think that you would because your article indicates that you have a phenomenal intellect and listening to this probably self-interested contractor would be incredibly unwise!"

"Combating global warming by first getting rid of CO2 is comparable to tearing the insulation out of this hypothetical building. CO2 is not a pollutant. Plants love this compound and some people even seem to feel that the recent greening in some parts of the Sahara Desert is partly attributable to increased levels of CO2. I tend to strongly agree with them in this assertion."

"Several days ago Mr. Charles Moore informed me that Canada produces roughly only 2.5 percent of global greenhouse gas emissions. Our nation could invest billions of dollars into reducing our carbon footprint and yet all this would have essentially zero effect on the global environment if China and India did not take similar measures.... besides....CO2 IS NOT A POLLUTANT... PLANTS LIVE ON IT AND RISING WORLD OCEAN LEVELS ARE ALMOST CERTAINLY THE GREATEST MOST IMMEDIATE THREAT POSED BY GLOBAL WARMING TO EVERY COASTAL COMMUNITY!!!!!!!!! (E-mail, September 11, 2008)

Ms. May deserves credit for encouraging Canadian political leaders to take environmental issues more seriously but at this time I feel that she has far too much confidence in the proposals put forward at Kyoto. The skepticism that Prime Minister Harper had for this accord seems to have been based on sound reasoning. Liberal Leader Stephane Dion was wise to hope for more time to further study this complex subject before an election.

You would be astonished how many of our political leaders do not understand the tremendous benefits of historical Canadian monetary policy.

"Why was a much larger national debt shrugged off in 1945, while today's much smaller debt (as a percentage of GDP) is being used as an excuse to let the economy stagnate?"

"The answer can be found at the Bank of Canada. During the war, and for 30 years afterward, the government could borrow what it needed at low rates of interest, because the government's own bank produced up to half of all the new money. That forced the private banks to keep their interest rates low, too.

"Since the mid-1970s, however, the Bank of Canada, with government consent, has been creating less and less of the new money, while letting the private banks create more and more. Today «our» bank creates a mere 2% of each year's new money supply, while allowing the private banks to gouge the government — and of course you and me, as well — with outrageously high interest rates. And it is these extortionate interest charges that are the principal cause of the rapid escalation of the national debt. If the federal government were paying interest at the average levels that prevailed from the 1930s to the mid-1970s, it would now be running an operating surplus of about $13 billion!"

..... "Clearly the current problem of the Canadian government's deficit is not its absolute size, or its size relative to the GDP, but the insane way it is being financed. A return to the policies of the World War II era, when the Bank of Canada produced almost one-half of the new money at near-zero interest, would do wonders for the economy, while greatly shrinking the deficit... The first order of business for a post-Mulroney- era government must be to regain effective control of the Bank of Canada and make it the primary source of money creation.

"It is ludicrous for the government to put billions of dollars into circulation by borrowing from the private banks, when it can create the extra money it needs, virtually free. "(by Harold Chorney, John Hotson, and Mario Seccareccia) .

We can encourage our federal and provincial level officials to re-enact wise monetary policy such as Prime Minister Mackenzie King did in 1940 by organizing a local film production cooperatives or company. Due to our proximity to the ocean we should all be highly motivated to produce films and effectively use the media to educate individuals and politicians all across Canada through YouTube.com. Time is limited if we hope to stimulate our economy, save our elementary school and prevent the loss of our roads and homes to the threat of rising ocean levels.

We have been told that we are almost helpless before these massive problems but what did the author of Genesis say about human capability for either evil or good if we unite on a common goal:

"And the LORD said, Behold, the people [is] one, and they have all one language; and this they begin to do: and now nothing will be restrained from them, which they have imagined to do." (Genesis 11)

Can we visualize extensively using hydrogen fuel cell cars in California, Nevada, New Mexico, Israel, Saudi Arabia, Jordan, Australia and Kuwait?
"And the parched ground shall become a pool, and the thirsty land springs of water." (Isaiah 35)

Saturday, March 29, 2008

My name is Dennis Tate. I lived most of my forty seven years in West Lochiel Lake, Guysborough County. I am running for MLA as an independent in the area of Pictou Centre so that I can help as many people as possible become more aware of what I am sure is the real reason why our roads are in disrepair, why hospital beds are unused, why so many of the rural schools have been shut down, why our soldiers in Afghanistan are poorly equipped and why many if not most of our young people may have to leave Nova Scotia to find jobs.

When well trained workers have high quality technology to work with then the total of all wages and benefits paid out to employees is only a fraction of the retail value of the products they produce. As a result of this fact the only way to move products out of warehouses is to extend higher and higher levels of credit.

One problem with an abundance of red ink is that compound interest on all this government, business and personal debt over a period of decades will grow to astronomical levels. At this time there is approximately TEN TIMES as much debt in Canada as there is money. A simple explanation for how this happened can be seen here:http://www.michaeljournal.org/plenty34.htm

In my opinion this rather simple mathematical problem is perhaps the number one cause of inflation in the Canadian economy over the past three decades. This is also perhaps the number one reason why our costs of production are so high and Canadian products cannot compete on the world markets as well as they could under better conditions.

From 1940 to 1970 the Government of Canada put roughly half of the total money supply into the economy through loans issued through the federally owned Bank of Canada. Provincial and municipal governments could borrow the money to build roads, schools, hospitals and sewage treatment facilities at zero or one percent interest.

In 1970 we changed our system and since that time a higher and higher percentage of all government debt is financed through loans issued through privately owned banks. At this time it is ninety eight percent. This policy may be great for our banking sector but it was estimated that in the one year of 1995 alone our federal government could have saved roughly SIXTY FIVE BILLION DOLLARS in interest payments if we had gone back to creating half the total money supply through these low interest rate loans issued through the bank that is OWNED BY ALL CANADIANS.

Considering that our deficit was approximately thirty billion dollars for that year, simply by changing back to an already proven monetary and banking system, we could theoretically have had a FEDERAL BUDGET SURPLUS OF THIRTY FIVE BILLION DOLLARS in 1995.

The massive cutbacks in the Canadian military, in health care, highway construction, social programs and education were profoundly affected by these accounting practices?

So what can you and I do about this problem?

1. If we will do our homework and study this question we can put pressure on our provincial level politicians to create a provincially owned bank. A true Bank of Nova Scotia owned by all Nova Scotians could be used to finance town and municipal government projects at zero or one percent interest just as The Bank of Canada used to do.

2. Town and municipal government officials in New Glasgow, Stellarton and Trenton should seriously consider creating a local currency unit such as has been done in Ithaca, New York. http://www.ithacahours.org/directory.php

This is a great way to promote local businesses and help sustain rural economies.

3. It is also possible for groups of concerned individuals to get together and organize a local barter exchange as a cooperative. Mr. Rob Assels has been instrumental in just such an initiative in the Tatamagouche and River John area so surely we can get similar organizations up and running here in New Glasgow, Pictou, Stellarton, Trenton and Westville. Here is a link into the Halifax LETS system:http://halifaxlets.com/

Let’s discuss the various options available on the Pictou County Portal Message board. If you have trouble using this technology maybe you could hire a young person to help you get started?

A BIG THANK YOU TO EVERYBODY IN SHERBROOKE, STILLWATER, SONORA, JORDANVILLE AND GOLDENVILLE!

You’ve made my first venture into politics extremely enjoyable. The conversations with many of you have been very encouraging and you can rest assured that I plan to make lots of noise on your behalf over the coming months and years regardless of the outcome of the election on October 16.

I also thank all of you who took the time to place comments in the message board that I started to discuss possible ways to stimulate our local economy.

As I have told many of you, the reason why I am running for the office of Municipal Councillor is because I believe that Canada had a much better monetary and banking system in the past and that we must force our provincial and federal politicians to abandon our present banking system and utilize the taxation and monetary system visualized by the men who drafted the original Canadian Constitution.

Many of you are already aware that our federal government is forbidden by our Constitution to collect income tax, or any direct fax, from us but very few Canadians understand the history of banking policy in Canada and to what degree our system is based on attempts at banking reform in the United States. When you fully understand this question I am certain that you will be angry. I certainly am.

http://www.michaeljournal.org/lincolnkennedy.htm
"During the Civil War (from 1861 - 1865), President Lincoln needed money to finance the War from the North. The Bankers were going to charge him 24% to 36% interest. Lincoln was horrified and went away greatly distressed, for he was a man of principle and would not think of plunging his beloved country into a debt that the country would find impossible to pay back.

Eventually President Lincoln was advised to get Congress to pass a law authorizing the printing of full legal tender Treasury notes to pay for the War effort. Lincoln recognized the great benefits of this issue.

At one point he wrote:"...(we) gave the people of this Republic the greatest blessing they have ever had - their own paper money to pay their own debts..."

The Treasury notes were printed with green ink on the back, so the people called them "Greenbacks".

Lincoln printed 400 million dollars worth of Greenbacks (the exact amount being $449,338,902), money that he delegated to be created, a debt-free and interest-free money to finance the War. It served as legal tender for all debts, public and private. He printed it, paid it to the soldiers, to the U.S. Civil Service employees, and bought supplies for war….."

Shortly after that happened, "The London Times" printed the following:"If that mischievous financial policy, which had its origin in the North American Republic, should become indurated down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without a debt. It will have all the money necessary to carry on its commerce. It will become prosperous beyond precedent in the history of the civilized governments of the world. The brains and the wealth of all countries will go to North America. That government must be destroyed, or it will destroy every monarchy on the globe"......

After this was published in "The London Times", the British Government, which was controlled by the London and other European Bankers, moved to support the Confederate South, hoping to defeat Lincoln and the Union, and destroy this government which they said had to be destroyed…...

"In 1972, the United States Treasury Department was asked to compute the amount of interest that would have been paid if that 400 million dollars would have been borrowed at interest instead of being issued by Abraham Lincoln. They did some computations, and a few weeks later, the United States Treasury Department said the United States Government saved 4 billion dollars in interest because Lincoln had created his own money. So you can about imagine how much the Government has paid and how much we owe solely on the basis of interest."The "Michael" Journal, November-December 1992, page 14, 1101 Principale St., Rougemont, Que. Canada-J0L-1M0

"Unpayable debts

“This means that just to maintain the same amount of money in circulation in our country, year after year, unpayable debts must pile up. For example, if one wants to maintain only $100 in circulation, year after year, by borrowing at 6% interest, the debt will be $106 after one year, then $112.36 after two years ($106 plus the 6% interest), and so on. After 70 years, the debt will have reached the sum of $5,907.59, and there will still be only $100 in circulation.”

In the case of public debts, the bankers are satisfied as long as the interest on the debt is paid. Is it a favour they do to us? No, it only delays the financial impasse for a few years since, after a while, even the interest on the debt becomes unpayable. Thus, in the example of the $100 borrowed at 6%, the interest due on the debt will have reached $104.26 after 50 years, which is more than all the money in circulation.”

No wonder then that the national debts of all the civilized countries in the world are reaching astronomical proportions. For example, Canada's national debt, which was $24 billion in 1975, is now over $500 billion, and the interest on this debt costs over $40 billion per year, or about one third of all the taxes collected by the Federal Government; this percentage keeps increasing year after year. So, to satisfy the bankers, the Government must slash all its other expenditures.

Will the Government wait until servicing the debt takes 100% of the taxes, to change the system, or will it prefer to let people starve? Moreover, the national debt is only the peak of the iceberg: there are also the debts of the provinces, municipalities, corporations and individuals!”
(Michael Journal).

Here are some of my own comments from our Sherbrooke Village ezboard community that will help you to tie all these facts and figures together.http://p079.ezboard.com/bsherbrookevillage
(This ezboard community has since been hacked and does not contain all the original posts)

Before this campaign is over I believe that most Sherbrookers will know that they have a very serious decision on their hands."

-According to the Canadian Constitution, the Federal Government does not have the right to tax income; this right belongs only to the provinces. The Supreme Court confirmed it in 1950.-For over fifty years, Gerry Hart, a citizen of Winnipeg, used this decision of the Supreme Court, and did not pay any Income Tax;

-The Canadian Constitution of 1867 gives the Federal Government the right to issue its own currency, based upon the resources and wealth of the nation;

-In 1913, the Federal Government injustly gave up this power to create money to private banks, which forced the Government to get into debt to private banks, and this debt has not ceased to grow ever since. (In 1994, the debt of the Federal and Provincial Governments is over $700 billion.)"(“Michael” Journal).

In the beginning of this thread you read some interesting facts about the monetary policy adopted by President Abraham Lincoln, just before the Civil War. What years are we talking about here?

The Civil War lasted from 1861 - 1865.In what year did the Fathers of Confederation draft the British North America Act?

As I am sure you know, Canadian Confederation took place in 1867.

GUESS WHY THE MEN WHO DRAFTED THE CANADIAN CONSTITUTION WOULD FORBID THE FEDERAL GOVERNMENT FROM LEVYING A DIRECT TAX ON THE PEOPLE OF CANADA?

Do you think it could possibly be because they were well aware that President Lincoln had come up with a fantastic monetary system and wanted to emulate it in Canada?????

I do.

Do you think that these men realized that the Lincoln policy had saved the American taxpayers billions of dollars in interest payments and they wanted to save the Canadian taxpayers money as well?

I do.

NOW DOES IT MAKE MORE SENSE THAT THE CANADIAN CONSTITUTION FORBIDS THE FEDERAL GOVERNMENT FROM LEVYING A DIRECT TAX ON THE CITIZENS OF CANADA?

It should.

At first it seems out of this world and impossible that our Federal Politicians are not allowed to put a tax on our income according to the Canadian Constitution, but not if you study the Lincoln monetary system, and realize that the men who drafted our constitution wanted Canadians to have the same advantages.

Before this campaign is over you will know why I have ran for public office and you will know that Sherbrookers are facing an extremely important question on October 16, 2004.

Do the people of Sherbrooke have the courage to potentially ruffle a few feathers in Ottawa in their attempt to shove the faces of our federal politicians in the smelly mess that they have made on our floor?

Do the people of Sherbrooke really want to try to show our Prime Minister and our Federal politicians that the men who drafted the British North America Act were highly intelligent people who had a tremendous advantage over our politicians here in 2004?

Back then, they had a good example to look at, study, and emulate. Here in our time period, ignorance of basic economic principles is essential for advancement in the federal political party system. Sherbrookers, if you want all things to continue as they did last year and the year before that.

If you are too worried to fight for a better monetary policy and banking system, then you certainly don't want to vote for Dennis Tate. You had better cast your ballot for anybody else but. I plan to make some noise over the coming weeks, months and years. If you want to amplify my voice, then maybe you should vote for me for Municipal Councillor on October 16."

Rage, Rage, against the dying of the light."

The holocaust was highly efficient and over the past twenty years employees in government and industry have been demoted, retrained, multi-tasked, laid off, downsized, and streamlined. Any government employee can tell you that they are now doing jobs that would have been done by two or perhaps three employees three decades ago. Are Canadians heading into another holocaust of sorts??

Think about it.

Is the next logical step a computer chip placed under our skin that will permanently identify us and let anybody in the correct office know exactly where we are at all the time? If you considered this possibility ridiculous twenty years ago, surely you realize that almost anything might happen now?

The kind of polite silence that came from our provincial MLA's when federal politicians and bureaucrats decided to close down and tear up our railways will lead to more downsizing, more cutbacks and a higher level of efficiency that is expected of all of us. I think that we may as well make our stand now before it is too late.

How do we cause reform in the ridiculous and foolish monetary system that our federal politicians have adopted?

Personally, I believe that we must forward this information to every RCMP officer in Canada and we must set a date for reform in our banking system or we should arrest every uncooperative federal politician in Canada on the charge of “Criminal Negligence Causing Death.” How about January 1, 2006 as the final cut off date for the levying of any direct taxation by our federal “government”?

How about turning every penny of direct taxation collected over to our provincial politicians after this date?

Shouldn’t politicians be held accountable for taking the reigns of government in a manner similar to how a school bus driver bears a certain responsibility when he or she sits behind a steering wheel?

I believe that they should certainly be held accountable and I do believe that the judges in each case should perhaps consider having some mercy on each of these defendants because certainly most of our politicians have almost no understanding of the economic theory of underconsumptionism, the monetary plan behind the British North America Act/Canada’s Original Constitution or the effects of our flawed monetary policy on Canadians, not to mention on the lives of kids in the third world.

I believe that the massive government spending cutbacks in health care and in our Canadian Armed Forces, over the past several decades, has certainly resulted in many premature deaths in Canada? It could even be argued that General Romeo Dallaire might well have been instrumental in warding off the genocide in Rawanda but, every major decision in Canada has been profoundly affected by our flawed monetary system. We have defined ourselves as essentially bankrupt in order to please a small but powerful segment of our population.

I believe that government spending cutbacks in our RCMP and in our Coast Guard is partly to blame for the fact that perhaps two thirds of the drugs that reach American cities come into North America through secluded and difficult to police areas of the Nova Scotia coastline.

If our federal politicians are not partly to blame in all this, then who is?

Oh, incidentally, I believe that our somewhat less than courageous provincial politicians had better help us to rip the power of direct taxation away from our federal government and give this power squarely back to our provincial governments as originally designed in the British North America Act or we should have them up on similar charges as well.

Then again, you could always leave this to be dealt with by a certain somebody else!

“But the cowardly, unbelieving,…and all liars shall have their part in the lake which burns with fire and brimstone, which is the second death.” (Revelation 21:8)
(Personally I’m hoping like hell that ultimately this is a metaphor for guilt because I know that I would be feeling major guilt right now if I hadn’t tried my best to warn you all about this. On the other hand those negative near death experiences are kind of scary!)

Do you know why Canadians enjoy a relatively high standard of living in comparison to the rest of the world?

Our parents and grandparents prayed, fought tooth and nail for and many died young for each one of the incredible blessings that most of us take for granted!

Are you willing to step up to the plate and try your best to do something about all this?

Here is what Mr. Jimothy Mason, an American who is planning a run for the Presidency in 2008 said after reading my theories:

Ø Jimothy, what do you think, can you fit this information into yourcampaign for President of the United States??

Sir Dennis,Not only can I "fit it in" but I feel that God is telling me that Iwould be wise to make this a central piece of my platform!
It's going to take meawhile to absorb everything because, yes, thunder has struck!And I feel that youare an invaluable resource to this group and tome;)
Blessings,
Jimothy“Jimothy Mason, 2008 Republican Candidate for the U.S.Presidency”

WHAT IS UNDERCONSUMPTIONISM? DO YOU THINK OUR PRIME MINISTER COULD DEFINE THIS THEORY IF ASKED ABOUT IT TOMORROW MORNING?

Basically, underconsumptionism, is the idea that in a technologically advanced economy, the sum total of the wages paid out to all workers involved in the creation of consumer goods, will never be as high as the value of the goods that they can produce. Globalization and the lessening of trade barriers between nations can cause the discrepancy between the supply of funds in the hands of consumers, and the total global level of production, to become almost incomprehensible.

This quotation from a Lubavichter Jewish website sums up the question quite well:

"1. The first thing Moshiach does is do away with bad marketing."
"That's thetrue villain that has held us back all these years. Ask anyconsumer electronicsor computer engineer. We could all own household robots todo our work. We couldbe consuming less than 10% of the natural resources weconsume now if it weren'tfor those nefarious busy bodies who market quantity rather than quality. Giventhe true needs of most people and the productivity possible with moderntechnology, we should all be working an average of 2.5hours a week. What'sresponsible for the other 60+ hours?
BadMarketing."
"Moshiach's marketing peoplewill get people's minds back on the righttrack. Thinking about real quality oflife. About their relationship with theearth and with their bodies and theirsouls and the people around them. Once that's done, just about everything else weneed to create paradise is here already."

I cannot possibly stress enough how dangerous these ideas are potentially.

We are the grandchildren of the people who killed every passenger pigeon.

The unwise application of this theory can lead to drastically increased economic activity and such high levels of consumption that we end up causing irreparable damage to the environment. Widespread understanding of this theory could potentially lead to the most massive military buildup in history as well.

I believe that our politicians and intellectual elite decided to not clearly explain these concepts, even to our university students, because they knew that we humans tend to take such information and channel it first into warfare. They perhaps consider that we, the ignorant masses, neither deserve nor could handle the tremendous power inherent in such knowledge.

On the other hand, I personally cannot imagine any possible way to prepare for a time of warfare and natural disasters, unless our political leaders comprehend the implications of this theory. Joseph led Egypt to store massive amounts of grain for potential times of trouble but our leaders tell our farmers to burn excess grain to attempt to keep the prices high. Don’t believe any politician who tells you that it is impossible to get prepared for rough times ahead.

And the LORD said, Behold, the people is one, and they have all one language; and this they begin to do: and now nothing will be restrained from them, which they have imagined to do. (Genesis 11:6).

So how should our Canadian federal government finance federal spending?

Ninety eight percent of all money in circulation is never printed. It is nothing more than a number on a ledger. I believe that our federal government must again use the bank of Canada to put perhaps half of the money supply of Canada into circulation through loans to the provinces and municipalities of zero or perhaps one percent interest. This is what we did from 1940 to 1970 but then we changed our system and adopted the American model. I assume because of pressure from the United States.

It has been estimated that we could have saved sixty five billion dollars in interest payments, in the one year of 1995, if we had went back to our wartime monetary and banking system. Instead of having a deficit of roughly thirty billion dollars for that year, we could have had a surplus of thirty five billion dollars.

Each year, the debt owed as interest on all loans in the economy, is a vastly higher sum than the interest paid to depositors by all banks in Canada.

Unless this higher number is put into circulation by our Bank of Canada, by order of our federal politicians, then we end up with a total figure for government, business and personal debt, that is vastly higher than the total amount of currency in circulation. The men who drafted our Canadian Constitution had planned for our federal politicians to be forced to address this problem by forbidding that they engage in any form of direct taxation.

If you held the power to legally print the Canadian dollar, would you be so stupid as to get yourself a trillion dollars into debt?

This is not rocket science, this is just a matter of realizing that the men who drafted the British North America Act, were onto something that most of our political leaders are too busy kissing babies and shaking hands to find out the simple truth about.

So Sherbrooke, do you want this information thundered or whispered?

The choice is yours.

I sincerely thank you for giving me so much of your time.

Warmest Regards,

Dennis Tate

p.s. On September 29, I e-mailed this article to virtually every reporter at the Halifax Herald. Sooner or later I’m going to run into some Canadians willing to put forth the effort to make this information public knowledge. (Thank God, I’ve already met some concerned Americans). After October 16, I plan to explain how this information can be applied on the small scale, the microeconomic level. If you have the internet, I’ve already told you about a few possible methods on your Sherbrooke Village ezboard. A businessman once said that he often needed to come up with two hundred ideas on how to solve a problem before he found the one that really worked! What do you think of idea number one?

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About Me

Back in university as I was taking classes in economics I began to wonder, "if the forces that drive the economy are so easy to understand, why is there such a high level of unemployment here in Nova Scotia?"
I could not figure out a satisfactory answer to this question until 1994 when Mr. Terriault from Digby Neck introduced me to a publication that filled in the missing pieces to the puzzle.
They say that knowledge is power, and Peter Paker's uncle said that with power comes great responsibility. I am hoping to run for public office in the next provincial election. I already campaigned for the office of Municipal Councillor and I so enjoyed campaigning that I plan to get back out there on the trail soon!